If not, is there any thing that we can do about it? Is it against the law? I know you would say buy a house instead of renting but I'm not ready to settle yet...
2007-08-02 06:42:25 · 8 answers · asked by Lucy 3 in Business & Finance ➔ Personal Finance
It's a normal part of renting. Each year, you should expect your rent to go up, some years might be more than others. Your landlord has to pay property and school taxes, and generally those increase every year. It's unrealistic to expect the owner to take that money out of his or her pocket, so in turn the expense is passed on to you.
In addition any utilities that you aren't paying are being covered by the landlord, and those costs increase each year as well.
If you owned a home, your taxes and utilities would still increase each year.
2007-08-02 06:51:18 · answer #1 · answered by jennrfp 3 · 1⤊ 0⤋
I tend to disagree with everyone that says it's a normal part of renting. It sounds to me like you have a landlord who does not care if you stay or leave. No it is not against the law, and something that you can do about it is just tell them when they say that your rent is being raised that you are tired of it and moving. Be prepared to stand by it though. The land lord may back down and not raise the rent, or you may end up moving. If you are a good tenant then they will probably back down. If you are not a good tenant they will probably smile and say "when can you be out".
Think about the amount that they want to raise your rent. Say $20 means that they would get $240 a year more out of you, but if you move then in 1 month they have lost more than they stand to gain all year because I bet your rent is more than $240 a month. Any logical person will realize that losing a tenant you already have = losing money if they are good tenants.
2007-08-02 07:06:10 · answer #2 · answered by Charles C 5 · 0⤊ 0⤋
It's really funny that you should ask this question today. I just received a letter from my landlord advising that they are raising the rent from $875 to $885!! Last year, they neglected to contact me about the new lease and so I didn't sign until March (should have been the past June). At any rate, I am going to question this increase because I have not been one year paying for the last one - not my fault they didn't get around to me until March - now I have a new "lease signed in March" -
Unless you live in a rent controlled city, you are pretty much at their disposal - one thing I have discovered - if they raise the rent- they have to do something to accommodate you . For example, upon signing the last lease - I got my carpets cleaned for free and I didn't know this - but I can get all my filters (air, fans, etc.) changed EVERY MONTH! This is supposed to keep the NES (electrictiy bill) at bay. Additionally, when I do go in and talk to them, I'm going to 'report' that my refrigerator is making lots of noise and might be going out - and I need my carpets retacked (places against the side of the wall that have come loose), and some patch up work inside (paint) If they raise it - they will have to do something to make me feel better. I would truly hate to move - I hate moving.
2007-08-02 06:56:05 · answer #3 · answered by THE SINGER 7 · 0⤊ 0⤋
When I was renting some years the rent went up, some years it didn't. But unless you have a multi-year lease setting the rent, it can change every time the lease is renewed.
It all depends on the rental market in your city if the landlord can get away with it.
If you can find a better apartment for less, then, move when the landlord tries to raise the rent.
2007-08-02 06:48:56 · answer #4 · answered by Michael K 5 · 1⤊ 0⤋
Yes, unfortunately, they can raise it yearly. That's why some people sign leases. You don't get a rasied rent for however long the lease is, but you have to stay there until the lease is up or pay a fee. Yes, buying a house is the best move. You don't have to settle either. Buy a house, if you have the money, and live in it for while. Build equity and when you decide to move on, sell the house, pay it off and keep the profit.
2007-08-02 06:48:40 · answer #5 · answered by Paul 3 · 0⤊ 0⤋
It depends on the terms of the lease. If you have a one year lease, the landlord has the right to increase the rent every year. If you sign a 3 yr lease the amount of the increase for each of the 3 years is spelled out in the lease. However, if you break the lease, you are responsible for the remaining months in the terms of the lease.
2007-08-02 06:52:26 · answer #6 · answered by binarywoman 2 · 0⤊ 0⤋
Yes, most places raise rent every year...operations costs increase as do maintance costs...
There really isn't anything you can do about increases, other than move...
2007-08-02 06:50:00 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Against the law? Are you kidding? Thanks for the laugh.
Jeez...its his place and he can charge what he likes unless its rent controlled
2007-08-02 06:46:03 · answer #8 · answered by Anonymous · 2⤊ 0⤋